Ares Capital (ARCC) Coverage Initiated by Analysts at Compass Point

Compass Point started coverage on shares of Ares Capital (NASDAQ:ARCC) in a report issued on Wednesday morning. The brokerage issued a buy rating and a $17.50 target price on the investment management company’s stock.

A number of other research firms have also recently commented on ARCC. Jefferies Group reissued a buy rating and set a $19.50 target price on shares of Ares Capital in a research report on Friday, November 3rd. Zacks Investment Research cut shares of Ares Capital from a hold rating to a sell rating in a research report on Tuesday, October 3rd. Citigroup started coverage on shares of Ares Capital in a research note on Wednesday, September 20th. They set an outperform rating and a $18.00 price target on the stock. Keefe, Bruyette & Woods set a $19.00 price target on shares of Ares Capital and gave the company a buy rating in a research note on Friday, October 6th. Finally, Wedbush started coverage on shares of Ares Capital in a research note on Monday, November 27th. They set an outperform rating and a $18.00 price target on the stock. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $18.00.

Shares of Ares Capital (ARCC) traded up $0.14 on Wednesday, hitting $16.24. 1,718,300 shares of the stock traded hands, compared to its average volume of 2,047,417. Ares Capital has a 52-week low of $15.48 and a 52-week high of $17.87. The stock has a market cap of $6,863.42, a PE ratio of 11.18, a PEG ratio of 3.89 and a beta of 0.63. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.29 and a quick ratio of 1.29.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Thursday, November 2nd. The investment management company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. Ares Capital had a net margin of 45.78% and a return on equity of 8.60%. The company had revenue of $294.00 million during the quarter, compared to analysts’ expectations of $295.02 million. During the same quarter in the prior year, the company posted $0.43 earnings per share. equities analysts expect that Ares Capital will post 1.38 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a $0.38 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.36%. Ares Capital’s payout ratio is currently 119.69%.

In other news, Director Michael J. Arougheti purchased 8,365 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were bought at an average price of $15.85 per share, for a total transaction of $132,585.25. Following the completion of the transaction, the director now owns 937,054 shares in the company, valued at $14,852,305.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought 8,965 shares of company stock worth $142,323 in the last quarter. Company insiders own 0.45% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE lifted its holdings in Ares Capital by 1.8% during the second quarter. US Bancorp DE now owns 54,004 shares of the investment management company’s stock valued at $885,000 after purchasing an additional 967 shares in the last quarter. Sei Investments Co. lifted its holdings in Ares Capital by 50.6% during the second quarter. Sei Investments Co. now owns 69,980 shares of the investment management company’s stock valued at $1,146,000 after purchasing an additional 23,505 shares in the last quarter. IFP Advisors Inc lifted its holdings in Ares Capital by 32.0% during the second quarter. IFP Advisors Inc now owns 83,971 shares of the investment management company’s stock valued at $1,375,000 after purchasing an additional 20,377 shares in the last quarter. Morgan Dempsey Capital Management LLC lifted its holdings in Ares Capital by 5.4% during the second quarter. Morgan Dempsey Capital Management LLC now owns 338,375 shares of the investment management company’s stock valued at $5,546,000 after purchasing an additional 17,358 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in Ares Capital by 370.2% during the second quarter. Canada Pension Plan Investment Board now owns 310,010 shares of the investment management company’s stock valued at $5,078,000 after purchasing an additional 244,080 shares in the last quarter. Institutional investors own 43.70% of the company’s stock.

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Ares Capital Company Profile

Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.

Analyst Recommendations for Ares Capital (NASDAQ:ARCC)

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